On October 1st, 2010, Alyson Books publisher Don Weise said that he had terminated discussions with Here Media for the purchase of Alyson Books.
“It’s heartbreaking that Here Media and I could not reach an agreement,” Mr. Weise said.
Earlier this month, Mr. Weise pulled together a team of financial backers and presented Here Media with an offer to buy Alyson. After weeks of negotiations, the two parties could not agree on terms.
“I worked for months to get a deal done—not just for myself, but especially for the many authors whose work has defined Alyson for the past 30 years.
After shopping the press around to several publishers, it became clear that the only way to preserve Alyson was for me to assemble financing to purchase the company myself. But even after offering a price that I believe to be twice the fair market value, we were unable to come to an agreement.”
Consequently, Mr. Weise is no longer affiliated with Alyson and will focus on other opportunities.
In a statement by Here Media executive and interim publisher, John Knoebel, Alyson Books will continue to operate as an E-book publisher only. Read more about Alyson’s new venture here.
Mr. Weise wanted to make it clear that the challenges faced by Alyson were unrelated to the gay and lesbian genre. “LGBT books will continue to perform solidly,” he said.
“The literature is more mainstream than ever with more outlets to reach gay consumers and more public awareness and support around LGBT issues.”
“Alyson is now solely in the hands of Here Media,” notes Mr. Weise. “I wish them the best.”